Employee Retention Credit 2021 Qualifications 

 December 1, 2023

By  Jace W Campbell, CPA

Employee Retention Credit 2021 Qualifications

In a year marked by financial turmoil and a shaky economy, Employee Retention Tax Credit (ERTC) emerged as a potential lifeline for many businesses… But the labyrinthine rules and complex qualifications may have left you scratching your head. You might even find yourself asking…

What is the Employee Retention Credit (ERTC)?

The Employee Retention Credit (ERTC) is a refundable tax credit under the CARES Act… It was designed to encourage businesses to keep employees on their payroll during COVID-19 related closures or financial hardships. However, the intricacies of this program are vast… So, let’s dive deeper.

How Confident Are You In Your ERTC Eligibility?

Watch Our Video Explaining the Fraud We’ve Seen From National ERC Promoters

How does one qualify for the ERTC?

Determining qualification for the ERTC is not always straightforward. The IRS has set forth some key criteria that must be met in order to be eligible…

Firstly, an employer must operate a trade or business during calendar year 2020 and experience either:

  • Full or partial suspension of operations due to government orders relating to COVID-19
  • A significant decline in gross receipts

It’s also important that these employers continue paying wages and health plan expenses despite these difficulties.

But what constitutes as significant decline in gross receipts? Or partial suspension? These terms can be subjective and require careful consideration.

Secondly, the calculation of these credits can also be complex. It is based on qualifying wages paid plus a portion of any cost incurred by the employer in providing health benefits.

In short, ERTC isn’t something you want to navigate without guidance. Whether you’re seeking this out independently or you’re a CPA serving clients…

What lies and deceptions are firms using to entice you?

There have been numerous reports about ERC firms employing deceptive tactics… Promising “too good to be true” outcomes or dodging questions about qualifications or the application process. This kind of conduct only emphasizes the need for independent eligibility review.

While the promise of ERTC is alluring, falling victim to these fraudulent schemes can leave you in a worse position than before…

Why should you engage with JWC ERTC Advisory?

In this turbulent landscape, JWC ERTC Advisory CPA emerges as a beacon of reliability… We offer not only expertise but also transparency. Our advisors guide clients through every step of the process, ensuring no stone is left unturned and that your eligibility for ERTC is thoroughly assessed.

Also read: What are the Requirements for Claiming ERTC?

Moreover, in light of the IRS’s recent crackdown on ERC promoters and attempts to curb ERTC fraud, it becomes even more critical to have a trustworthy partner on your side.

Engaging with JWC ERTC Advisory not only helps mitigate fear and uncertainty but also opens up potential gains from these tax credits. By guiding you through this complex process and by providing an independent eligibility review, we ensure that you are informed and confident about your standing regarding these credits…

Remember… You are ultimately responsible for these tax credit claims. Don’t let any so-called “expert” convince you otherwise.

The Bottom Line

ERTC can be a lifesaver during tough times… But navigating its intricacies requires both time and expertise. Engaging with a reputable firm like JWC ERTC Advisory CPA can provide reassurance while potentially opening up financial gains for your business…

If you’ve previously filed for ERTC or have questions about your eligibility, consider seeking our independent eligibility review. We’re here to help guide you through this complicated yet vital aspect of business finance during uncertain times.

So, why wait? Take the next step in your discovery journey with us today… Because after all, our success is measured by yours.

Jace W Campbell, CPA

Jace founded JWC ERTC Advisory CPA in March 2021 as the nation's first and only public accounting firm focused solely on ERC . . . and nothing else. He has personally signed over 9,000 ERTC claims and is proud to be executing these claims conservatively, and how intended by Congress.

He has a passion for educating clients so they can make the best decision for themselves.  If you read articles and watch videos that Jace produced in 2021, his approach is the same now as it was then.

While other firms pivot their messaging to comply with new IRS guidance, Jace continues preaching the same conservative principles that have helped clients recover hundreds of millions . . . while sleeping easy at night.

related posts:

Can You Claim Employee Retention Credit in 2023?

Can You Claim the Employee Retention Credit in 2022?

Employee Retention Credit Scams: What You Need to Know

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